News Release: Seefried Industrial Properties and Clarion Partners Break Ground on 265,000-Square-Foot Industrial Development in Salt Lake City

SALT LAKE CITY, UTAH � July 30th, 2026 � Seefried Industrial Properties, in partnership with Clarion Partners, has broken ground on a speculative industrial development at 4950 West 1100 South in Salt Lake City, Utah, marking the start of construction on the firms' first joint project in the market.

Construction is now underway on the Class A development, which will deliver nearly 265,000 square feet across two buildings. The buildings will include approximately 79,465 square feet of office space, 52 dock-high doors, 12 grade-level doors, and 268 parking spaces. It is designed for logistics, distribution, and light manufacturing users, addressing demand for well-located infill industrial space within Salt Lake City's core transportation network. The project is being developed to achieve LEED certification.

The site is located within a qualified opportunity zone and one of Salt Lake City's most established industrial submarkets, with direct access to Interstate 80 and Interstate 215 and immediate proximity to Salt Lake City International Airport, supporting regional and national distribution across the Intermountain West.

"This groundbreaking represents our continued investment in Salt Lake City and our confidence in this industrial market," said Payson MacWilliam, Managing Director at Clarion Partners. "We are committed to delivering high-quality space that will support the region's continued economic growth. We are pleased to formally commence construction and look forward to seeing these facilities come to life."

Completion is expected in 3Q-2027.

Big-D Construction is serving as general contractor on the project. AE Urbia Architects is serving as Architect of Record, with Dominion Engineering, Inc. serving as Civil Engineer. Marketing and leasing efforts are being led by Tom Freeman, Jeremy Jensen, Travis Healey, and Rob Parise of Colliers.

About Seefried Industrial Properties
Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties is as a privately held real estate company specializing in the development, leasing, and management of industrial properties across the United States. The company primarily focuses on development in core industrial markets and build-to-suits with tenants in core and second-tier markets. Seefried currently leases and manages approximately 25 million square feet on behalf of its institutional and European clients and has developed over 200 million square feet of industrial space valued at $22 billion across key U.S markets. Headquartered in Atlanta, Seefried Properties extends its operational presence through regional offices strategically located in Dallas, Chicago, Los Angeles, and Phoenix. For more information, please visit seefriedproperties.com.

About Clarion Partners
Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $72.6 billion in total real estate and debt assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to 500 institutional investors across the globe. Clarion is scaled in all major property types and was an early entrant into the Industrial sector. The Firm's global industrial team manages ~950 industrial properties in the U.S. and Europe consisting of approximately 245 million square feet. Clarion is invested in over 170 properties in areas designated as qualified opportunity zones (QOZs) and owns an additional 730+ properties in submarkets neighboring QOZs as of March 31, 2026. Clarion Partners is a subsidiary of Franklin Templeton. For more information visit clarionpartners.com and follow us on LinkedIn and YouTube.